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Ribble Valley landlords offered cash to convert homes for affordable rental
10:10am Tuesday 15th November 2011
LANDLORDS in the Ribble Valley are being offered a cash incentive of up to £15,000 to renovate homes so they can be rented out at affordable prices.
Council chiefs have launched the scheme to address the lack of affordable housing in the borough, where homes are priced well above the national average.
The cash is up for grabs from Ribble Valley Borough Council in the form of landlord tenant grants for conversion, or renovation.
The local authority is offering up to 50per cent of the cost of converting or renovating properties for rent.
Landlords will be able to claim £10,000 per flat, or £15,000 per house.
But, on completion, the property must meet the Government’s decent homes standard and be let for a minimum of five years.
And the council will also set an ‘affordable’ rent, and have nomination rights for the prospective tenant.
Stuart Hirst, chairman of the council’s health and housing committee, said: “The provision of affordable housing is one of the biggest challenges we face and our grant system is going some way to alleviating the problem by encour-aging prospective landlords to enter the rented accommodation sector.
"Grants are available and we are keen to hear from prospective landlords without delay.”
Clitheroe builder John Ingham, received funding to convert the Old Wesleyan School, Low Moor, Clitheroe, to three two and three-bedroom houses for affordable rent.
For more details, contact the housing strategy team on 01200 414567, or email@example.com